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COLUMBIA, M0. 2Q1
SSRV
71st Year No. 44 ( itutrl Morning! Ii" s Friday Xarvmltrr 3. 1978 2 Sections 22 Papes 15 Cent
f
ByMikeMansur
Ifissourian staff writer
After four months oi weighing the pros and
cons of the move, a City Council committee has
decided to recommend that the Columbia
Municipal Court be abolished. Judicial Steering
Committee member Don Mosby said the
recommendation would be presented to the City
Council Monday night.
" Now is the logical time for Columbia to do
it," Second Ward Councilman Mosby said.
He said committee members decided to
recommend abolishment because they thought
the city should make the move now, while the
circuit court system is in the process of change.
" I just think the timing is perfect for the move,"
Mosby said.
Under statewide court reform, effective Jan.
2, all municipalities may abolish their local
courts and channel their cases to the circuit
court The state court system then would handle
the cost of hearing the cases, but the city would
still receive the fines from violations of city
ordinances.
Boone County Cicuit Court will assume the
city's cases, but the city would continue to pay
the city prosecutor and operate the Traffic
Violations Bureau.
In the past, recommendations from council
committees have been followed fairly closely,
Mosby said. But this decision may take a little
more thought by the council. " It's a complicated
thing," he said.
Mosby explained that the committee's
decision was of greater magnitude than any
decision he had been part of as a committee
member during his two years on the city
council. " It's almost like abolishing a depart
ment" he said. " And that's never been done."
The recommendation will be presented to the
council in a report prepared by Sixth Ward
Councilman Clyde Wilson, committee chair-man.
Third Ward Councilwoman Diane Farish
is the third member of the committee .
In an Oct. 17 meeting of the Judicial Steering
Committee, the council members said the
recommendation would be based on whether the
circuit court could handle the additional cases.
Mosby said he thought the Circuit Court would
be able to handle the heavier caseload. He said
the circuit court is " a well- ru- n system' ' and that
the move would be " a good thing."
But Ms. Farish had expressed concern about
the priority the city's cases would be given if
moved to the circuit court's docket.
Ms. Farish said she would also present a
report to explain some of these concerns to the
council. " A lot of people don't know everything
about it," she said.
If the City Coual follows the recommendation
and abolishes the court. Municipal Court Judge
Fred Dannov would lose his job. Dannov would
not comment Thursday on the committee's
recommendation.
Speculators
alter value
of dollar
Money- change- rs
affect world market
By Jeff Bradley
Associated Press Writer
LONDON ( AP) The American
dollar's humbled position in the past 18
months is often blamed on currency
" speculators."
President Carter's rescue plan,
announced Wednesday, may halt the
panicky flight from the ILS. currency.
But the question remains: Who are the
speculating money- change- rs who
prefer marks, francs and yen to the
dollar? And where can they be found?
For the most part, they are not the
shadowy figures imagined. They are
bankers both American and foreign
exporters and importers,
multinational corporations, and
government banks of each country.
Major oil companies such as Esso
and British Petroleum and firms like
Imperial Chemical Industries are
among those active in the market " The
oil companies deal in millions all the
time, but one of the strengths of the
foreign exchange market is that it can
cope with those sort of amounts in its
stride," said Terry Ellis, a senior of-ficial
of Britain's National Westminster
Bank.
They transact their business in the
noisy foreign exchanges of the world's
largest hanks, hectic places where
shirtsleeved dealers are surrounded by
telephones, calculators, computer
terminals and Telex machines. News
printers clatter in the background.
It is a world in which millions of
dollars are bought and sold every
minute, and in which instantaneous
communication makes it possible for
dealers in New York to know the
prevailing rates of exchange for any
given currency in London, Frankfort or
Hong Kong at that moment
In London, for instance, one of the
biggest trading rooms is the " World
Money Center" at the National West-minster
Bank. It has 30 dealers with
direct lines to a dozen or so of Britain's
largest corporations, brokers and the
Bank of England and with
correspondent dealers in New York,
Paris, Tokyo and other major centers.
On an average day, they handle $ 1.5
billion in currency. And that amount
can be multiplied by nearly a dozen
other hanks in London alone.
Their operations are complex.
Dealers can beg, sell, borrow and quote
rates for the present or the future. If
they fail to take account of a sudden
plunge in the value of the dollar, they
can lose huge sums.
They try to buy when the price is
right, and sell when it is higher. Their
cnstomers are exporters who get paid
for their goods in foreign currencies
and importers who must pay for the
products they want
If a business customer asks for $ 10
( See SELLING, Page 14A)
Michael Bryant
on tMe hlmfis
Bluff- blasti- ng was the order of the day Thursday on XLS.
S3, where the state highway department is widening the
two4ane highwaybetween Columbia and Jefferson Qty.
The widening of the roadway to four lanes is particularly
difficult in some areas, since the limestone bluffs must be
blasted away with dynamite.
First, holes are drilled in the rock, then charges of
dynamite are inserted. Traffic is halted, the area is cleared
of workers and bystanders and the charges are detonated,
top photo.
Immediately following the blast the road is covered with
dust and smoke, middle photo. When the dust settles, a
front- en- d loader clears the rocks and dirt from the road,
andtraffic is once again allowed topass.
This blasting area is located about 16 miles ( 25. G
kilometers) south of Columbia.
At right, pipefitter Marvin Perrigo mans a stop sign
during the blasting and watches the show with the halted
motorists.
Isaslft tay Comeback QB
MLfflKAfT WI 89 It's been a long road back to the
HHl' " top ior Ceaizsa ttgh School's -'- JmJsgtestim'k
IfHSRU1-
-
lljgF-- - . fSSW jmE football Panthers particularly for
' Mra!" liEEfilra M Wu, J star 1uarijack Dyke Dick. Dick, I tfaOlipii 13& f " fco tos sidelined for most of the
'" W ';". sBSSjil fflg 1977 season with a knee injury, has
J8fflniiiJfeA? 5fl5mroI iaBriffl season, completing 42 of 68 passes sSBmwWS& e for 8S2 yards and 10 touchdowns.
ggHMJtaB'- ljS. msal- EM KigB1ffjlttiii. nReera'sdciarcbloeuint SMpcsrtrse, PtuargneftioA. the win- -
In town siy
J: 80 pjsl " Finiari's Rainbow," University Theater, Fine Arts Building.
7: 38jLni. " WestSide Story " Rock Bridge High Schoolgymnasium.
pjn. High school football, Hickman vs. St Louis St Thomas Aquinas,
Hickman Field.
Tourists
cheer
dollar's
rebound
United Press International
The dollar- buyi- ng spree across
Europe and Asia Thursday gave
Amen cans abroad instant relief
against high prices for everything from
cigarettes to bullfights and buoyed the
spirits of bankers, traders and
politicians.
One expert exulted that the rebound
might mark the end of the worst decline
for 135. currency since World War It.
" I'm happy' an American
businessman in Tokyo said. "" We're
very happy." an exporter said. A TJ. S.
serviceman said he could now fhirfc
about going out again.
For the beleaguered American
tourist the price of a cup of coffee in
Japan dropped from 51.40 to 51.33
overnight, a ticket to a bullfight in
Spain dropped from $ 5.95 to $ 5.60, a
pack of cigarettes in West Germany
-- - dipped from SI .57 to SI 53 and a dinner
for four in Pans from $ 114 to 103.
Nobody seemed to know when the
rapid climb of the U. S. currency in
response to President Carter's surprise
dollar- resc- ue plan would end. Some
money dealers said it was bound to
level off eventually. But for the
moment, dollar fever threw markets
into chaos everywhere.
" Conditions have been pretty hectic
on money markets, with the dollar
moving like a yo- yo- ." said a dealer far
Barclays Bank International in London.
A record $ 1.35 billion changed hands
on the Tokyo foreign exchange
nearly tnple Wednesday's trading
and the dollar skyrocketed from 178.8
yen to 1B6 yen at 4.2 percent jump,
the biggest in nearly five ears.
Even the People's Bank of China in
Hong Kong suspended exchange rate
quotations, apparently in response to
the market ' 5 turbulence.
In London, the dollar gained 3 cents
against the pound.
" President Carter's move Wed-nesday
is the first giant step to help the
weak dollar," said a leading London
banker. " I hope it really does
something to stabilize money
markets."
Japanese Prime Minister Takeo
Fukuda hailed Carter's decision to
create a 530- hilli- on fund of foreign
currencies to purchase dollars abroad
as a " wonderful decision."
" I back it wholeheartedly,"" Fukuda
said.
The dollar opened in Zurich at 1.5050
Swiss francs from 1.5725, picking up
another full point to 1.51375 during the
first half- ho- ur of trading. In Frankfurt,
it regained 5.375 pfennigs to open at
1.83875 marks.
In Paris, reopened after All Saints
Day, the dollar moved to -- 128 francs
from 4.0155 at Tuesday's close, while in
Milan and Brussels, also closed for the
holiday, it posted gains of 235 centimes
to 3050 Belgian francs from 28J5, and
-- C. 451ireto 835 lire from 78835.
U. S. plans suit against AT& T
WASHINGTON The Justice
Department has outlined to a Federal
District Court here plans to break up
fee American Telephone and Telegraph
Company. These plans, according to
the department, go beyond the
divestiture proposal it outlined in a 1974
3trLti1rMfgtUMiMflBflftf'
The department told the court
Wednesday it cot only would seek to
compel WesternElectric Company Inc.
to sever its ties wiQi AT& T, but also
would ask the court to split the
lraimfactnring faihmflfary into two or
niyfyfii'inpfliifoE- -
In iwMfliiro, the government said it
msy muSk to a&& sB from AT& T, the
ho& fing cotapsny for the BeU S& tem,
some of its 23 subsidiary, local- servic- e
telephone companies. These companies
provide service to 92 percent of the
country's telephones; 1,700 independent
telephone companies serve the
remaining 8 percent.
In the original Sherman Act com-plaint
alleging monopoly four years
ago, the departinentreccoraended that
Western Electric, Bell Laboratories
( another subsidiary) and the Long- lin- es
Department . of AT& T, which
provides long- distan- ce service between
the local companies, all be . split from
AT& T to allow more rapetition in the
telecommunicationsbusiness.
The additional elements c'l
divestiture -- were detailed by the Justice
Department in a 628- pa- ge statement
uttming the facts and alleged
violations ef law fhxt the government
will try to prove in trial. The civil suit
in some respects the most far- reachi- ng
industrial reorganization the govern-ment
has ever pursued through an-titrust
litigation, could come to trial in
1980.
AT& T w, on a procedural victory
Thursday when Chief Justice Warren
E. Burger continued a stay of a District
Court order -- which the company hopes
to overturn. That . order, signed by
Judge Harold & Greene, directs AT& T
to turn over to the department
documents that the inampity already
has made available to corporate
p1nit. irfaitTi- ivj4tf'grrBtTTi! t'gTtrt- e.
The Justice Department's 1S74
' Complaint charges hat AT& T had
monopolized the telecainmnmcalians
business in several ways, bntespeciaHy
by means of a parent campmiy
requirement that operating sub-sidiaries
buy all Jhsir eginpmeat from
Western Electric tbe inarjafacturing
snhsidiary.
The Justice Department tM the
court Thursday fast cos reason for
breaking Western Oectrk into two or
more mrajllgr ctaxtoacks waaM be to
so& ke it easier for titemxsBta to get a
( 5eAT& T, PageKA)

COLUMBIA, M0. 2Q1
SSRV
71st Year No. 44 ( itutrl Morning! Ii" s Friday Xarvmltrr 3. 1978 2 Sections 22 Papes 15 Cent
f
ByMikeMansur
Ifissourian staff writer
After four months oi weighing the pros and
cons of the move, a City Council committee has
decided to recommend that the Columbia
Municipal Court be abolished. Judicial Steering
Committee member Don Mosby said the
recommendation would be presented to the City
Council Monday night.
" Now is the logical time for Columbia to do
it," Second Ward Councilman Mosby said.
He said committee members decided to
recommend abolishment because they thought
the city should make the move now, while the
circuit court system is in the process of change.
" I just think the timing is perfect for the move,"
Mosby said.
Under statewide court reform, effective Jan.
2, all municipalities may abolish their local
courts and channel their cases to the circuit
court The state court system then would handle
the cost of hearing the cases, but the city would
still receive the fines from violations of city
ordinances.
Boone County Cicuit Court will assume the
city's cases, but the city would continue to pay
the city prosecutor and operate the Traffic
Violations Bureau.
In the past, recommendations from council
committees have been followed fairly closely,
Mosby said. But this decision may take a little
more thought by the council. " It's a complicated
thing," he said.
Mosby explained that the committee's
decision was of greater magnitude than any
decision he had been part of as a committee
member during his two years on the city
council. " It's almost like abolishing a depart
ment" he said. " And that's never been done."
The recommendation will be presented to the
council in a report prepared by Sixth Ward
Councilman Clyde Wilson, committee chair-man.
Third Ward Councilwoman Diane Farish
is the third member of the committee .
In an Oct. 17 meeting of the Judicial Steering
Committee, the council members said the
recommendation would be based on whether the
circuit court could handle the additional cases.
Mosby said he thought the Circuit Court would
be able to handle the heavier caseload. He said
the circuit court is " a well- ru- n system' ' and that
the move would be " a good thing."
But Ms. Farish had expressed concern about
the priority the city's cases would be given if
moved to the circuit court's docket.
Ms. Farish said she would also present a
report to explain some of these concerns to the
council. " A lot of people don't know everything
about it," she said.
If the City Coual follows the recommendation
and abolishes the court. Municipal Court Judge
Fred Dannov would lose his job. Dannov would
not comment Thursday on the committee's
recommendation.
Speculators
alter value
of dollar
Money- change- rs
affect world market
By Jeff Bradley
Associated Press Writer
LONDON ( AP) The American
dollar's humbled position in the past 18
months is often blamed on currency
" speculators."
President Carter's rescue plan,
announced Wednesday, may halt the
panicky flight from the ILS. currency.
But the question remains: Who are the
speculating money- change- rs who
prefer marks, francs and yen to the
dollar? And where can they be found?
For the most part, they are not the
shadowy figures imagined. They are
bankers both American and foreign
exporters and importers,
multinational corporations, and
government banks of each country.
Major oil companies such as Esso
and British Petroleum and firms like
Imperial Chemical Industries are
among those active in the market " The
oil companies deal in millions all the
time, but one of the strengths of the
foreign exchange market is that it can
cope with those sort of amounts in its
stride," said Terry Ellis, a senior of-ficial
of Britain's National Westminster
Bank.
They transact their business in the
noisy foreign exchanges of the world's
largest hanks, hectic places where
shirtsleeved dealers are surrounded by
telephones, calculators, computer
terminals and Telex machines. News
printers clatter in the background.
It is a world in which millions of
dollars are bought and sold every
minute, and in which instantaneous
communication makes it possible for
dealers in New York to know the
prevailing rates of exchange for any
given currency in London, Frankfort or
Hong Kong at that moment
In London, for instance, one of the
biggest trading rooms is the " World
Money Center" at the National West-minster
Bank. It has 30 dealers with
direct lines to a dozen or so of Britain's
largest corporations, brokers and the
Bank of England and with
correspondent dealers in New York,
Paris, Tokyo and other major centers.
On an average day, they handle $ 1.5
billion in currency. And that amount
can be multiplied by nearly a dozen
other hanks in London alone.
Their operations are complex.
Dealers can beg, sell, borrow and quote
rates for the present or the future. If
they fail to take account of a sudden
plunge in the value of the dollar, they
can lose huge sums.
They try to buy when the price is
right, and sell when it is higher. Their
cnstomers are exporters who get paid
for their goods in foreign currencies
and importers who must pay for the
products they want
If a business customer asks for $ 10
( See SELLING, Page 14A)
Michael Bryant
on tMe hlmfis
Bluff- blasti- ng was the order of the day Thursday on XLS.
S3, where the state highway department is widening the
two4ane highwaybetween Columbia and Jefferson Qty.
The widening of the roadway to four lanes is particularly
difficult in some areas, since the limestone bluffs must be
blasted away with dynamite.
First, holes are drilled in the rock, then charges of
dynamite are inserted. Traffic is halted, the area is cleared
of workers and bystanders and the charges are detonated,
top photo.
Immediately following the blast the road is covered with
dust and smoke, middle photo. When the dust settles, a
front- en- d loader clears the rocks and dirt from the road,
andtraffic is once again allowed topass.
This blasting area is located about 16 miles ( 25. G
kilometers) south of Columbia.
At right, pipefitter Marvin Perrigo mans a stop sign
during the blasting and watches the show with the halted
motorists.
Isaslft tay Comeback QB
MLfflKAfT WI 89 It's been a long road back to the
HHl' " top ior Ceaizsa ttgh School's -'- JmJsgtestim'k
IfHSRU1-
-
lljgF-- - . fSSW jmE football Panthers particularly for
' Mra!" liEEfilra M Wu, J star 1uarijack Dyke Dick. Dick, I tfaOlipii 13& f " fco tos sidelined for most of the
'" W ';". sBSSjil fflg 1977 season with a knee injury, has
J8fflniiiJfeA? 5fl5mroI iaBriffl season, completing 42 of 68 passes sSBmwWS& e for 8S2 yards and 10 touchdowns.
ggHMJtaB'- ljS. msal- EM KigB1ffjlttiii. nReera'sdciarcbloeuint SMpcsrtrse, PtuargneftioA. the win- -
In town siy
J: 80 pjsl " Finiari's Rainbow," University Theater, Fine Arts Building.
7: 38jLni. " WestSide Story " Rock Bridge High Schoolgymnasium.
pjn. High school football, Hickman vs. St Louis St Thomas Aquinas,
Hickman Field.
Tourists
cheer
dollar's
rebound
United Press International
The dollar- buyi- ng spree across
Europe and Asia Thursday gave
Amen cans abroad instant relief
against high prices for everything from
cigarettes to bullfights and buoyed the
spirits of bankers, traders and
politicians.
One expert exulted that the rebound
might mark the end of the worst decline
for 135. currency since World War It.
" I'm happy' an American
businessman in Tokyo said. "" We're
very happy." an exporter said. A TJ. S.
serviceman said he could now fhirfc
about going out again.
For the beleaguered American
tourist the price of a cup of coffee in
Japan dropped from 51.40 to 51.33
overnight, a ticket to a bullfight in
Spain dropped from $ 5.95 to $ 5.60, a
pack of cigarettes in West Germany
-- - dipped from SI .57 to SI 53 and a dinner
for four in Pans from $ 114 to 103.
Nobody seemed to know when the
rapid climb of the U. S. currency in
response to President Carter's surprise
dollar- resc- ue plan would end. Some
money dealers said it was bound to
level off eventually. But for the
moment, dollar fever threw markets
into chaos everywhere.
" Conditions have been pretty hectic
on money markets, with the dollar
moving like a yo- yo- ." said a dealer far
Barclays Bank International in London.
A record $ 1.35 billion changed hands
on the Tokyo foreign exchange
nearly tnple Wednesday's trading
and the dollar skyrocketed from 178.8
yen to 1B6 yen at 4.2 percent jump,
the biggest in nearly five ears.
Even the People's Bank of China in
Hong Kong suspended exchange rate
quotations, apparently in response to
the market ' 5 turbulence.
In London, the dollar gained 3 cents
against the pound.
" President Carter's move Wed-nesday
is the first giant step to help the
weak dollar," said a leading London
banker. " I hope it really does
something to stabilize money
markets."
Japanese Prime Minister Takeo
Fukuda hailed Carter's decision to
create a 530- hilli- on fund of foreign
currencies to purchase dollars abroad
as a " wonderful decision."
" I back it wholeheartedly,"" Fukuda
said.
The dollar opened in Zurich at 1.5050
Swiss francs from 1.5725, picking up
another full point to 1.51375 during the
first half- ho- ur of trading. In Frankfurt,
it regained 5.375 pfennigs to open at
1.83875 marks.
In Paris, reopened after All Saints
Day, the dollar moved to -- 128 francs
from 4.0155 at Tuesday's close, while in
Milan and Brussels, also closed for the
holiday, it posted gains of 235 centimes
to 3050 Belgian francs from 28J5, and
-- C. 451ireto 835 lire from 78835.
U. S. plans suit against AT& T
WASHINGTON The Justice
Department has outlined to a Federal
District Court here plans to break up
fee American Telephone and Telegraph
Company. These plans, according to
the department, go beyond the
divestiture proposal it outlined in a 1974
3trLti1rMfgtUMiMflBflftf'
The department told the court
Wednesday it cot only would seek to
compel WesternElectric Company Inc.
to sever its ties wiQi AT& T, but also
would ask the court to split the
lraimfactnring faihmflfary into two or
niyfyfii'inpfliifoE- -
In iwMfliiro, the government said it
msy muSk to a&& sB from AT& T, the
ho& fing cotapsny for the BeU S& tem,
some of its 23 subsidiary, local- servic- e
telephone companies. These companies
provide service to 92 percent of the
country's telephones; 1,700 independent
telephone companies serve the
remaining 8 percent.
In the original Sherman Act com-plaint
alleging monopoly four years
ago, the departinentreccoraended that
Western Electric, Bell Laboratories
( another subsidiary) and the Long- lin- es
Department . of AT& T, which
provides long- distan- ce service between
the local companies, all be . split from
AT& T to allow more rapetition in the
telecommunicationsbusiness.
The additional elements c'l
divestiture -- were detailed by the Justice
Department in a 628- pa- ge statement
uttming the facts and alleged
violations ef law fhxt the government
will try to prove in trial. The civil suit
in some respects the most far- reachi- ng
industrial reorganization the govern-ment
has ever pursued through an-titrust
litigation, could come to trial in
1980.
AT& T w, on a procedural victory
Thursday when Chief Justice Warren
E. Burger continued a stay of a District
Court order -- which the company hopes
to overturn. That . order, signed by
Judge Harold & Greene, directs AT& T
to turn over to the department
documents that the inampity already
has made available to corporate
p1nit. irfaitTi- ivj4tf'grrBtTTi! t'gTtrt- e.
The Justice Department's 1S74
' Complaint charges hat AT& T had
monopolized the telecainmnmcalians
business in several ways, bntespeciaHy
by means of a parent campmiy
requirement that operating sub-sidiaries
buy all Jhsir eginpmeat from
Western Electric tbe inarjafacturing
snhsidiary.
The Justice Department tM the
court Thursday fast cos reason for
breaking Western Oectrk into two or
more mrajllgr ctaxtoacks waaM be to
so& ke it easier for titemxsBta to get a
( 5eAT& T, PageKA)